BUSI 223 Liberty University Accounting Time Value of Money Exercise

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explore the time value of money, the economic indicators, and you
will begin to address personal finance goals.
Please complete the all 4 sections (Time Value of Money, the Economic Indicators, the Personal
Finance Goals, and a Conclusion) on the Exercise: Time Value of Money.
Part 1: Time Value of Money
Enter your answers to the below 3 questions and bonus on the Exercise: Time Value of Money
Please make sure that you include your inputs and round out 2 decimal points for all answers.
For example: I want to see how much my $5,000 will be worth in 5 years if I can earn 4%.  
PV = -5,000 (Make sure it is negative if you are paying the bank)
I/Y = 4 (Use the full number on the calculator and .04 if using Excel)
N = 5 (Use annual unless the question asks for monthly)
CPT FV = ANSWER rounded 2 decimal points
1. I want to be able to buy a car with cash in 3 years. I have $10,000 that I can invest today.
I can get a bond earning 2%. How much will I have for the purchase?
2. I want to buy a house in 4 years. I need to have a down payment of $50,000. How much
do I need to have today in order to have the down payment, if I can earn 3%?
3. I just graduated from school with $25,000 worth of debt. I want to know what my
monthly payment is going to be. I was able to finance it over 7 years at 6%.
? When it is monthly, you need to change the setting to 12 payments per year on the
calculator and divide the interest by 12 if you are using Excel.
? If you are paying out for a payment or the present value (most of the time you will be
using PV), then you need to enter it as a negative number.
? Try to estimate what you think it will be before completing the mathematical equation. If
you are getting a car payment of $1,000, then you probably entered something wrong.
? Always clear out the calculator after each problem (2nd FV).
Part 2: Economic Indicators
It is important to know what is going on in the economy. Please look up the following websites
and answer the below questions on the Exercise: Time Value of Money Template.

BUSI 223
Page 2 of 2
1. From the Department of Labor, Bureau of Labor Statistics go to the Labor Force
Statistics from the Current Population Survey found in the Exercise: Time Value of
Money Recourses in the the Exercise: Time Value of Money Assignment. Scroll down
to “CPS News Release” and it will give you the Unemployment Rate (“UeR” in %
for last month) in the first sentence. Report the Unemployment Rate.
2. From the Department of Labor, Bureau of Labor Statistics go to the Customer Price
Index found in the Exercise: Time Value of Money Resources. Scroll down to the
“News Releases.” Report the change in CPI-U (Consumer Price Index for All Urban
Consumers) for the most recent month (as a percentage). Make sure to use the seasonally
adjusted rate. It is in the first sentence.
3. From the Bureau of Economic Analysis found in the Exercise: Time Value of Money
Resources, click on the “view” on the “The Gross Domestic Product” (GDP). Report the
quarterly change in GDP (as a percentage).
Part 3: Personal Financial Goals
Complete the chart on the Exercise: Time Value of Money Template. The suggested websites
for this part are Wise Bread, The Financial Diet, and 20 Something Finance. The suggested
app is Buxfer. These can all be found in the Exercise: Time Value of Money Resources.
Part 4: Conclusion
Write a conclusion about what you have learned between time value of money and
economic indicators and how that affects your goals

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